File No. 36531

This notice was published in the August 15, 2012, issue (Vol. 2012, No. 16) of the Utah State Bulletin.


Financial Institutions, Administration

Rule R331-14

Rule Governing Parties Who Engage in the Business of Issuing and Selling Money Orders, Traveler's Checks, and Other Instruments for the Purpose of Effecting Third-Party Payments

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 36531
Filed: 07/20/2012 02:18:47 PM

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

Sections 7-1-301 and 7-1-505, and Subsection 7-1-501(2)(h)(iii) authorize the commissioner to adopt rules requiring licensing and prescribing standards with regard to the financial condition and capability of all parties who issue instruments payable to third parties.

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

No supporting or opposing written comments have been received since the last notice of continuation.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

No other state rule establishes the authority to engage in the selling of money orders, traveler's checks, and other instruments in the state of Utah so it should be continued.

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Financial Institutions
AdministrationRoom 201
324 S STATE ST
SALT LAKE CITY, UT 84111-2393

Direct questions regarding this rule to:

  • Paul Allred at the above address, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at pallred@utah.gov

Authorized by:

Edward Leary, Commissioner

Effective:

07/20/2012


Additional Information

The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull-pdf/2012/b20120815.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.

For questions regarding the content or application of this rule, please contact Paul Allred at the above address, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at pallred@utah.gov.